Add Counterparty External Bank Accounts

Overview

Create external bank accounts for counterparties to enable third-party payouts. You provide bank routing details and beneficiary information to create accounts using raw routing details.

Counterparty external bank accounts support credit operations only. You can send funds to them but cannot withdraw.

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Payment direction

Counterparty external bank accounts can only receive payments (credits), not send them (debits).

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Feature availability

Cybrid disables this feature by default in Production. Contact Cybrid Support to enable it for your bank.

Prerequisites

Before creating a counterparty external bank account:

• Create a counterparty. See Creating a Counterparty.
• Verify the counterparty's identity. See Verifying a Counterparty.

Create a counterparty external bank account

After you complete the prerequisites, create an external bank account for the counterparty using the POST /api/external_bank_accounts endpoint.

The following example creates a domestic USD external bank account:

POST /api/external_bank_accounts
Content-Type: application/json
Authorization: Bearer YOUR_TOKEN

{
  "name": "external_bank_account_name",
  "account_kind": "raw_routing_details",
  "customer_guid": "customer_guid",
  "counterparty_guid": "counterparty_guid",
  "asset": "USD",
  "counterparty_bank_account_details": [
    {
      "bank_code_type": "routing_number",
      "bank_code": "routing_number",
      "account_identifier": "account_number",
      "payment_rail": "ACH"
    }
  ]
}

{
  "guid": "external_bank_account_guid",
  "name": "external_bank_account_name",
  "account_kind": "raw_routing_details",
  "customer_guid": "customer_guid",
  "counterparty_guid": "counterparty_guid",
  "asset": "USD",
  "state": "completed",
  "counterparty_bank_account_details": [
    {
      "bank_code_type": "routing_number",
      "bank_code": "routing_number",
      "account_identifier": "account_number",
      "payment_rail": "ACH"
    }
  ]
}

For foreign fiat external bank accounts, see Foreign Fiat External Bank Accounts.

For detailed API reference, see Create External Bank Account.

Failure codes

The following error occurs when creating a counterparty external bank account without verification:

• unverified_counterparty: Verify the counterparty before creating a counterparty external bank account.